Livestock Transport & Trading Co. KPSC said its first-quarter normalized net income amounted to 601,150 dinars, a rise of 15.4% from 520,850 dinars in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 4.4% from 5.9% in the year-earlier period.

Total revenue increased 53.4% on an annual basis to 13.6 million dinars from 8.9 million dinars, and total operating expenses rose 51.5% from the prior-year period to 13.0 million dinars from 8.6 million dinars.

Reported net income increased 17.3% on an annual basis to 952,020 dinars, or 0 fils per share, from 811,620 dinars, or 0 fils per share.

As of May 29, US$1 was equivalent to 30 Kuwaiti fils.